Retention Money definition

Retention Money means the aggregate of amount retained by the Employer as Security Deposit.

Retention Money means the accumulated retention moneys which the Procuring Entity retains under Sub-Clause

Retention Money means the money retained from R.A.Bills for the due completion of the "LET WORS".

Examples of Retention Money in a sentence

• Money10 (i) From every payment for Works due to the Contractor in accordance with the provisions of Clause 19.5, the Authority shall deduct 6% (six per cent) thereof as guarantee money for performance of the obligations of the Contractor during the Construction Period (the “Retention Money”) subject to the condition that the maximum amount of Retention Money shall not exceed 5% (five per cent) of the ContractPrice.

More Definitions of Retention Money

Retention Money means the aggregate of all monies retained by the Employer.

Retention Money means the accumulated retention moneys which the Procuring Entity retains under Sub- Clause 14.3 [Application for Interim Payment Certificates] and pays under Sub-Clause 14.9 [Payment of Retention Money].

Retention Money means the aggregate of all monies retained by the Employer pursuant to Sub-Clause 60.2(a).

Retention Money shall have the meaning set forth in Clause 7.5;

Retention Money means the aggregate of all monies retained by the Employer pursuant to Clause – 38 of Section II.

Retention Money means the security to be deducted from the payable amounts of the Contractor in accordance with the terms and conditions of the Contract.

Retention Money means the aggregate of all monies retained by the Employer pursuant to GCC 45.1.